12 May 2022 09:39, UTC.
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Leading Russian mining company Bitriver is considering filing a lawsuit against the U.S. Treasury Department, which put the firm on a sanctions list in April of this year.
RIA Novosti reported that Bitriver, a mining company, said the sanctions have caused significant damage to its reputation and international business, though the accusations are unfounded. The company claims that the U.S. Treasury had no legal basis for such a decision.
Recall that in late April, the U.S. Treasury Department’s Office of Foreign Assets Control put Bitriver and its 10 subsidiaries on the sanctions list. According to the agency, these companies help Russia monetize its natural resources and offset the impact of sanctions.
The company now intends to demand through the courts that it be removed from the blacklist. Bitriver claims that the firm is not a state institution – it is “a 100% private company” that does not help Russia circumvent restrictions in any way.
In addition, Bitriver believes that in this way the U.S. is lobbying for its mining businesses and eliminating a competitor, thereby violating World Trade Organization rules.
Bitriver CEO Igor Runets called it an attempt to change the global balance of power in favor of U.S.-controlled companies and remove the largest Russian player from the market. Despite the sanctions, according to him, all of the company’s production facilities and offices are working normally. Bitriver also continues to work with its clients from other countries.
Earlier, the U.S. Treasury Department put cryptocurrency mixer Blender on a sanctions list, saying it helped launder stolen digital assets.
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